Fast forward 7 years and all three are accused of insider trading because they allegedly traded on information received wrongfully from expert networks.

But Longueuil and Barai are the ones really in trouble — they’re the first high profile hedge fund managers charged with insider trading in months. Almost everyone else charged so far has been from an expert consulting network that allegedly gave out the information, or they’ve been connected to the Rajaratnam insider trading case from 2009.

And they’re really in trouble thanks to two of their colleagues, who, it seems like, essentially ratted them out to save their own hides. In Freeman’s case, it’s really screwy because it seems like he’s the one who provided Longueuil with the information he traded on and he’s the one who recorded him talking about it for the FBI.

Instead, he was helping his friend go free, and giving the FBI useful evidence to use against him.

Think that's sad? See how good Longueuil had it before he got charged with insider trading

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